Portsmouth Community Football Club has now paid off all debts taken on as a result of its exit from administration in April 2013.
The club was able to survive in part thanks to a loan from Portsmouth City Council agreed by the then Liberal Democrat administration, despite an attempt by Labour and Conservative Councillors to delay the loan which would have forced the club to go under. The loan was repaid early and with interest.
“I’m delighted that Portsmouth Football Club has managed to pay off its debts. This fully vindicates the decision of Portsmouth Liberal Democrat councillors to provide the loan which enabled the survival of the club, and shows how wrong the Conservatives and Labour were to oppose it,” said Cllr Gerald Vernon-Jackson, Liberal Democrat leader on Portsmouth City Council and Parliamentary Candidate for Portsmouth South.
"I wish the club the very best for its bright new future.”